Suppose you want to save $80,000 to put toward a down payment on a

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Suppose you want to save $80,000 to put toward a down payment on a house in 7 years. How much will you need to deposit now if you can obtain an APR of 3.6% compounded quarterly? Assume that you make no deposits into the account after the initial deposit. (Round your final answer to the nearest cent.)

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